The duration of a recession is measured from:
A. trough to peak.
B. peak to trough.
C. trough to trough.
D. peak to peak.
Answer: B
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The biggest wave of bank failures in the U.S. occurred:
A) during the Great Depression. B) before the Great Depression. C) during 2007 to 2009. D) in the early 1990s.
What is the primary difference between bundling and tie-ins?
A) Bundling is typically a one-off purchase. B) Contractual arrangements. C) Tie-ins are one-off purchases. D) Bundling is illegal and tie-ins are legal.
Developing countries often justify imposition of tariffs because:
a. it creates a burden on government budget. b. it is easy to collect direct taxes from people in the developing countries. c. a large number of people in the developing countries earn a taxable income. d. developing countries find income taxes difficult to levy and collect. e. the volume of imports of these countries is considerably low.
If short-run equilibrium output equals 10,000, the income-expenditure multiplier equals 10, the mpc equals 0.9, and potential output (Y*) equals 9,000, then transfers must be decreased by approximately ________ to eliminate any output gap.
A. 1,000 B. 111 C. 90 D. 100